ETS Marketing Management

________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.

• Wants; needs

• Demands; wants

• Needs; wants

• Needs; demands

• Demands; needs

When companies measure the number of people who are willing and able to buy their products, they are measuring ________.

• demand

• price elasticity

• real needs

• standard of living

• disposable income

Companies address needs by putting forth a ________, a set of benefits that they offer to customers to satisfy their needs.

• brand

• value proposition

• deal

• marketing plan

• demand

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________.

• target markets

• capital markets

• tertiary markets

• demographics markets

• developing markets

________ reflects a customer's judgment of a product's performance in relation to his or her expectations.

• Brand equity

• Satisfaction

• Value

• Perception

• Brand image

The ________ is the channel stretching from raw materials to components to final products that are carried to final buyers

• communication channel

• distribution channel

• supply chain

• service chain

• marketing chain

The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the ________.

• supply chain

• global market

• value proposition

• competition

• marketing environment

Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries. This is called ________.

• globalization

• customization

• industry convergence

• disintermediation

• privatization

Disintermediation via the Internet has resulted in ________.

• higher prices

• stronger brand loyalty

• greater emphasis on personal selling

• well-established brand names

• greater consumer buying power

Which of the following holds that consumers prefer products that are widely available and inexpensive?

• the product concept

• the production concept

• the selling concept

• the performance concept

• the marketing concept